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Euro/Dollar forecast for today: EURUSD analysis 07.06.2022

The short-term euro uptrend continues. The growth target is the Target Zone 1.0837 – 1.0818. Since June 3, the price has been trading in a correction.

Yesterday, the Additional Zone 1.0716 – 1.0711 was broken out. Today the price has reached the Intermediary Zone 1.0668 – 1.0658. The IZ serves as the border of a short-term uptrend. In this zone, consider long trades according to the pattern with the first target at the June 3 high.

To enter euro sales, traders need to break out level 1.0658. After that, the trend will reverse down, and the target for sales will be the lower Target Zone 1.0572 – 1.0553. In this case, consider short trades on the correction at strong resistance levels.

EURUSD trading ideas for today:

Buy according to the pattern in Intermediary Zone 1.0668 – 1.0658.

TakeProfit: 1.0763, Target Zone 1.0837 – 1.0818.

StopLoss: according to the pattern rules.




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